The Business Times
business-time-50

Mapletree Logistics Trust to shrink China footprint to rejuvenate portfolio

MLT’s manager sees potential opportunities in emerging markets such as Vietnam and India

google-preferred-sourceAdd BT as a preferred source
Navene Elangovan

Navene Elangovan

Published Wed, Oct 23, 2024 · 05:58 PM
    • Mapletree Yuyao in China's Zhejiang province. MLT’s portfolio achieved positive rental reversions across most markets, except in China.
    • Mapletree Yuyao in China's Zhejiang province. MLT’s portfolio achieved positive rental reversions across most markets, except in China. PHOTO: MLT

    MAPLETREE Logistics Trust (MLT), whose earnings have been weighed down by an economic slowdown in China, plans to divest about S$1 billion worth of its assets – of which about half will be from China and Hong Kong.

    The remaining assets identified for divestment are from Malaysia and Singapore, with a smaller proportion from Australia, Japan and South Korea.

    Jean Kam, the chief executive officer of the trust’s manager, said on Wednesday (Oct 23) that these countries have assets which are “no longer relevant” to MLT’s portfolio.

    Financial resultsmapletree logistics trust

    TRENDING NOW

    Yeoh Pei Xien is the youngest grandchild of Yeoh Tiong Lay, who founded Malaysian multinational conglomerate YTL Corporation.

    Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart

    Grant Wee built Hideaway as a massage-and-bathhouse concept centred on solitude and recovery.

    UOB CEO’s youngest child Grant Wee turns burnout into a wellness business

    Keppel declares an interim cash dividend of S$0.15 per share for H1 2026, unchanged from the year-ago period.

    Keppel H1 net profit drops 59% to S$155 million on impairments, M1 deal fallout; shares fall 4%

    Singtel says both options remain at an exploratory level for now.

    Singtel explores Nasdaq-SGX dual listing for data centre arm Nxera, local data centre Reit

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More